Novavax Stock Forecast
Green day on Friday for Novavax
(Updated on May 03, 2024)
The Novavax stock price gained 4.67% on the last trading day (Friday, 3rd May 2024), rising from $4.71 to $4.93. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.34% from a day low at $4.69 to a day high of $4.94. The price has risen in 8 of the last 10 days and is up by 24.18% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 966 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $22.67 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.07% during the next 3 months and, with a 90% probability hold a price between $3.69 and $5.59 at the end of this 3-month period.
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NVAX Signals & Forecast
Mostly positive signals in the chart today. The Novavax stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $4.42 and $4.47. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 26.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Novavax stock
Novavax finds support from accumulated volume at $4.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.251 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 6.26%.
Since the Novavax has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $4.76 (-3.54%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (NVAX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Novavax Inc to open at $4.85, and during the day (based on 14 day Average True Range), to move between $4.67 and $5.19, which gives a possible trading interval of +/-$0.257 (+/-5.20%) up or down from last closing price. If Novavax Inc takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.94 (0.20%) than the support at $4.88 (1.01%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Novavax Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.495 Buy Candidate Unchanged
Predicted Opening Price for Novavax Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $4.85 ( 1.56%) | $4.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NVAX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.10 | 3.52 % | |
| R2 | 5.01 | 1.58 % | ||
| R1 | 4.95 | 0.383 % | ||
| Current price: | 4.93 | |||
| Support | S1 | 4.76 | -3.50 % | |
| S2 | 4.70 | -4.70 % | ||
| S3 | 4.60 | -6.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.02 | 22.11 % | |
| R2 | 5.29 | 7.30 % | ||
| R1 | 4.94 | 0.203 % | ||
| Current price | 4.93 | |||
| Support | S1 | 4.88 | -1.01% | |
| S2 | 4.41 | -10.55% | ||
| S3 | 4.15 | -15.82% |
FAQ
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